Indiabulls India Estate and two subsidiaries of the Embassy Group have entered into an agreement to merge their residential and commercial projects. This shall become one of the India’s leading real estate development platforms, with 80.8 Million sq. ft. launched and planned development potential.
Here are the latest financial news of private equity, venture capital and mergers & acquisitions:
Private Equity
Agri-business firm DCM Shriram raising debt capital again for expansion:
DCM Shriram Ltd, diversified manufacturing company that makes products ranging from fertilisers to cement, is raising debt capital from an international investment firm to expand its factories. The company is set to secure up to $49 Million from International Finance Corporation.
(Source: VC Circle 08 September, 2020)
Silver Lake to invest $1 bn in Reliance Retail:
Private equity firm Silver Lake will invest Rs 7,500 crore ($1.02 billion) in its Reliance Retail Unit. Silver Lake’s investments in Reliance Retail Venture Ltd will translate into a 1.75% equity stake on a fully diluted basis.
(Source: VC Circle 09 September, 2020)
Flipkart eyes investment in fashion firm touting brands endorsed by celebrities:
Walmart owned e-commerce giant Flipkart is planning to invest in a fashion startup, Universal Sportsbiz Pvt Ltd. The Online retailer is in discussion to plough around $5 million (Rs 36 Crore).
(Source: VC Circle 09 September, 2020)
Private Equity Firm put fresh capital into Burger King India ahead of delayed IPO:
Burger King India Ltd, the master franchisee to run the local operations of the global burger chain, has raised fresh private equity capital after its proposed initial public offering got delayed due to the COVID-19 pandemic.
(Source: VC Circle 14 September, 2020)
Amicus Capital leads Series B funding for personal care startup mCaffeine:
Personal care brand mCaffeine has raised $5.7 million (Rs 42 crore) in its Series B round of funding led by homegrown mid-market private equity firm Amicus Capital.
(Source: VC Circle 22 September, 2020)
KKR to invest $755 mn in Reliance Retail Venture:
Private equity giant KKR & Co. Inc will invest Rs 5,550 crore in Reliance Retail Ventures Ltd to pick up a 1.28% stake.
(Source: VC Circle 23 September, 2020)
Nalanda Capital bets on OrbiMed – backed company:
Nalanda Capital has invested around Rs 110.5 crore for about a 4% stake in Advanced Enzyme Technologies Ltd, after backing of global healthcare focused fund OrbiMed last year.
(Source: VC Circle 28 September, 2020)
Venture Capital
Lightspeed leads Series B Funding for Hasura:
Hasura Inc., which operates a developer-focussed tooling products startup, has raised $25 million (Rs 184 crore) in a Series B funding round.
(Source: VC Circle 09 September, 2020)
Y Combinator Continuity leads Series C funding for investment platform Groww:
NextBillion Technology Pvt Ltd, which operates online investment platform Groww, has raised $30 million (Rs 220) in a Series C funding round.
(Source: VC Circle 10 September, 2020)
Zomato pockets $100-mn cheque from Tiger Global:
Food delivery company Zomato Media Pvt. Ltd has raised $100 million (Rs 760 crore) from US-based investment firm Tiger Global Management LLC. The transaction has been sealed at a post-money valuation of $3.3 billion for Zomato.
(Source: VC Circle 10 September, 2020)
B2B platform CustomFit.ai raises pre-seed funding:
Valley Monks Pvt Ltd, which operates business-to-business (B2B) website personalisation platform CustomFit.ai, has raised funding in a pre-seed round led by Java Capital.
(Source: VC Circle 11 September, 2020)
Korean Investment Partners leads Series B funding for Ratan Tata backed CashKaro:
Pouring Pounds India Pvt Ltd, which operates cashback and coupons platform CashKaro, has raised $10 million (Rs 73.4 crore) in a Series B funding round.
(Source: VC Circle 15 September, 2020)
Nexus-backed Observe.AI amasses $54 mn in Series B funding:
Observe.AI, an artificial intelligence-based startup developing transcription and analytics software for voice calls, has raised $54 million (Rs 396 crore) in a Series B funding round.
(Source: VC Circle 18 September, 2020)
IAN Fund leads funding for agri-tech startup Farmers Freshzone:
Farmers Freshzone Pvt Ltd, an agricultural-technology startup focussed on providing a direct-to-consumer marketplace for farmers, has raised Rs 3.5 crore (about $476,000) in funding.
(Source: VC Circle 16 September, 2020)
Kerala based BestDoc raises pre-Series A capital from Accel & others:
BestDoc Technology Pvt Ltd, a software-as-a-service firm focussed on patient relationship management, has raised Rs 16 crore ($2.2 million) in funding from Accel, Arkam Venture & SEA Fund.
(Source: VC Circle 23 September, 2020)
Chiratae leads Series A funding for sales accelerator SquadStack:
SquadRun Inc., which operates software-as-a-service (SaaS) sales acceleration platform SquadStack, has raised $5 million (about Rs 37 crore) in a Series A funding round, led by Chiratae Ventures & Blume Ventures.
(Source: VC Circle 29 September, 2020)
Mela Ventures, 1Crowd lead pre-Series A funding for SaaS firm Infilect:
Infilect Technologies Pvt Ltd, a software-as-a-service (SaaS) startup that provides retail-focussed visual intelligence, has raised $1.5 million (Rs 11 crore) in a pre-Series A funding round.
(Source: VC Circle 30 September, 2020)
Mergers & Acquisition
TCG looks to acquire bankrupt textile company:
A chemicals manufacturer that’s part of the Purnendu Chatterjee-led The Chatterjee Group (TCG) has made an offer to acquire a well-known textile company through a bankruptcy process.
(Source: VC Circle 03 September, 2020)
Dabur scion’s firm buys diagnostics lab from Quadria-backed Strand Life:
Aditya Burman-led Oncquest Laboratories Ltd has acquired a large diagnostics lab in Gurugram from Strand Life Sciences Pvt. Ltd as part of its plans to expand its operations in India.
(Source: VC Circle 03 September, 2020)
Infosys to buy US firm Kaleidoscope in second acquisition of 2020:
Infosys Ltd has signed a pact to acquire Kaleidoscope Animations Inc. an Ohio, US-based Company that designs and develops medical devices as well as consumer and industrial products. Infosys will pay up to $42 million (Rs 308 crore) to Kaleidoscope’s founders, India’s second-largest software services company.
(Source: VC Circle 03 September, 2020)
Cube Highways ties up debt financing to help buy toll roads:
Singapore-based Cube Highways and Infrastructure Pte Ltd, has tied up with the State Bank of India (SBI) for a Rs 3,500 crore ($476 million) loan facility to help acquire road projects on a toll-operate-transfer (TOT) basis.
(Source: VC Circle 09 September, 2020)
Japan’s Orix Corp to buy over 20% stake in Greenko Energy:
Japanese financial services group Orix Corp will invest $980 million (Rs 7,207 crore) in Hyderabad-based Greenko Energy Holdings, in lieu of more than 20% stake in the wind and solar power generator.
(Source: VC Circle 11 September, 2020)
Kirloskar Ferrous to acquire VSL Steels factory:
Kirloskar Ferrous Industries Ltd, the pig iron and iron castings-based arm of the Kirloskar Group of Companies, has agreed to acquire a plant operated by VSL Steels Ltd for a cash consideration of Rs 135 crore ($18.4 million).
(Source: VC Circle 14 September, 2020)
Byju’s snaps up Unitus-backed lab simulation startup LabInApp:
Education-technology giant Byju’s has acquired LabInApp Technology Pvt. Ltd, a Bengaluru-based startup that provides laboratory simulation to students via their mobile devices.
(Source: VC Circle 18 September, 2020)
HCL Technologies to acquire Australian IT firm DWS:
Noida-based software services major HCL Technologies Ltd will acquire Australian information technology and business consulting company DWS Ltd for A$162.15 million (Rs 870 crore) in cash.
(Source: VC Circle 21 September, 2020)